Answer:
A change in quantity demanded is caused by a change in price only. That is, when price rises quantity demanded falls vise versa
A change in demand occurs when there is a shift in the demand caused by a change in other determinates of demand other than price such as change in income, change in taste and fashion, demographic changes etc.
Explanation:
Real word example of change in demand :
Changing Tastes or Preferences
From 1990 to 2020, the per-person consumption of chicken by Americans rose from 48 pounds per year to 85 pounds per year, and consumption of beef fell from 77 pounds per year to 54 pounds per year, according to the U.S. Department of Agriculture (USDA). Changes like these are largely due to movements in taste, which change the quantity of a good demanded at every price: that is, they shift the demand curve for that good, rightward for chicken and leftward for beef.
Simply put it this way> Change in quantity demanded : Price change, quantity demanded change
Change in Demand: Price doesn't change but quantity demanded changes as a result of change in other determinates of demand examples the change in preference
Answer: Macro, External
Explanation:
Macroeconomics effect the entire world, while it scrutinizes the external forces that affect the company.
Answer:
c. rent-seeking behavior
Explanation:
In economics, rent-seeking behavior can be described as a behavior or conduct that tries to increase the share of an economic agent or an entity from the existing wealth without adding or creating new wealth. This implies that the entity aims to obtain added wealth without creating a new one.
From the question, the aim of the lawyers is mainly to increase their own wealth in terms of legal fees they will collect from preparing wills, trusts, and other legal documents when they prepare them for people when a law restrict people from self-preparing it using their personal computers. In turn, the lawyers will only increase their share of wealth without adding any wealth.
Therefore, this is an example of rent-seeking behavior.
The answer & explanation for this question is given in the attachment below.
Answer: Option (E)
Explanation:
Assurance engagement tends to refer or mean that an engagement, under which an individual or practitioner tends to express a conclusion, that is designed in order to enhance the level or degree of confidence of user or the intended user, apart from the responsible individual about the result or outcome of measurement or evaluation of the subject matter against the stated criteria.
